Royal Caribbean Cruises Ltd (NYSE:RCL) stock was up today following the release of its earnings report for the fourth quarter of 2017.
Earnings per share of $1.34 for the fourth quarter of 2017 was good news for RCL stock. This is better than Royal Caribbean Cruises Ltd’s earnings per share of $1.23 from the same time last year. It also came in well above Wall Street’s earnings per share estimate of $1.20 for the period.
Net income reported by Royal Caribbean Cruises Ltd for the fourth quarter of 2017 was $288.04 million. The is up from the cruise line company’s net income of $261.09 million that was reported in the fourth quarter of 2016.
Royal Caribbean Cruises Ltd also reported revenue of $2.00 billion for the fourth quarter of the year. This is an increase over its revenue of $1.91 billion that was reported in the same period of the year prior. It also beat out analysts’ revenue estimate of $1.97 billion for the fourth quarter of the year.
There’s also good news for Royal Caribbean Cruises Ltd employees in the earnings report. The company is handing out a bonus to its 66,000 non-corporate employees. This bonus will be equal to 5% of their yearly salary. It comes in the form of equity grants vesting over three years. RCL says that total spending on this bonus comes to $80 million.
Royal Caribbean Cruises Ltd’s most recent earnings report also includes its outlook for the full year of 2018. The company is expecting earnings per share for the year to range from $8.55 to $8.75. Wall Street is estimating earnings per share of $8.63 for the full year of 2018.
RCL stock was up 2% as of Wednesday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.